Compaq posts $US279 million Q2 loss
Compaq has reported a $US279 million second-quarter loss as the company's revenue declined sharply on a year-to-year basis. Compaq said the second-quarter results include a $493 million restructuring charge to pay for the lay-offs announced along with a reduced expectations warning late last month. Net income from operations totalled $67 million during the quarter, compared with a $388 million profit in the same period a year ago, Compaq said.
Western Europe's PDA market stalls in Q2The overall market for PDAs (personal digital assistants) in Western Europe stalled during the second quarter of this year, according to a study by market research company Dataquest, a unit of Gartner Group.
The handheld market increased by only 7.1 per cent from the same quarter last year, while the market saw 123 per cent overall growth in 2000, Dataquest said.
Market leader Palm maintained the top spot with 32.3 per cent of the market, while Compaq came close as its market share increased from 4.5 per cent to 30.2 per cent. Psion fell into third place with its market share dropping to 9.8 per cent. Completing the race was Handspring with an 8.2 per cent share of the market, Hewlett-Packard with 6.5 per cent of the market, Casio Computer with 3.9 per cent, and IBM with 1.6 per cent of the market. A total of 507,419 units shipped in the quarter, Dataquest said.
HP to cut 6000 jobs
Hewlett-Packard plans a third round of job cuts, saying it will jettison another 6000 workers due to a continuing slowdown in IT spending. The downturn is expected to push the company's fiscal third-quarter revenue as much as 15 per cent below earlier projections. HP, which started the calendar year with a total of 88,500 workers, laid off 1770 employees in January and another 3000 in April.